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Field slams HBOS on Farepak collapse

Labour MP Frank Field has laid down an early-day motion attacking HBOS for its “pivotal” role in the collapse of Christmas savings firm Farepak. He says HBOS allowed Farepak to continue trading while it clawed back around £1m a week of people’s savings to offset the company’s overdraft with the bank.

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‘IFAs need style counsel’

Fidelity says rapid growth in the multi-manager market has led to different product types, which means IFAs need more information on how these strategies work. The firm says multi-man-ager has become a “must- have” product and its latest research shows that 82 per cent of advisers are using multi-manager products. Fidelity sets up its first […]

Shadow Chancellor says there must be no backtracking on Asps

Conservative Shadow Chancellor George Osborne has criticised Government dithering over alternatively secured pensions, claiming it would be extraordinary to scrap or disadvantage the product at this stage. Speaking at the Pep & Isa Managers’ Association conference last week, Osborne said it would be wrong to waste industry money spent developing and marketing Asps and there […]

IFAs angry as Standard Life discounts direct business

Standard Life has been accused of shooting itself in the foot by offering cheaper life policies to direct customers. The company has been slammed by IFAs for offering discounted life cover through its telesales channel and competing on price with supermarkets. A male non-smoker aged 30 applying for a 25-year level term policy for 200,000 […]

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